BANYAN CAY COMMUNITY DEVELOPMENT
DISTRICT

PALM BEACH COUNTY Regular Board Meeting & Public Hearing
JULY 26, 2022
2:00 P.M.

Special District Services, Inc.
2501A Burns Road
Palm Beach Gardens, FL 33410

www.banyancaycdd.org 561.630.4922 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA BANYAN CAY
COMMUNITY DEVELOPMENT DISTRICT
Conference Room of Special District Services, Inc.
2501A Burns Road
Palm Beach Gardens, Florida 33410
REGULAR BOARD MEETING & PUBLIC HEARING
August 16, 2022
2:00 P.M.

Call to Order
Proof of Publication…	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
April 19, 2022 Regular Board Meeting Minutes…	Page 2
Old Business
New Business
Consider Resolution No. 2022-02 – Resetting Public Hearing Date to Adopt Fiscal Year
2022/2023 Final Budget…	Page 5
Consider Resolution No. 2022-03 – Adopting a Fiscal Year 2022/2023 Meeting Schedule… Page 6
Public Hearing
Proof of Publication…	Page 8
Receive Public Comments on Fiscal Year 2022/2023 Final Budget
Consider Resolution No. 2022-04 – Adopting a Fiscal Year 2022/2023 Final Budget…	Page 9
Administrative Matters
Board Members Comments
Adjourn

PALM BEACH DAILY BUSINESS REVIEW
Published Daily except Saturday, Sunday and Legal Holidays
West Palm Beach, Palm Beach County, Florida

STATE OF FLORIDA COUNTY OF PALM BEACH:

Before the undersigned authority personally appeared ANGELINA GARAY, who on oath says that he or she is the LEGAL CLERK, Legal Notices of the Palm Beach Daily Business Review f/k/a Palm Beach Review, a daily (except Saturday, Sunday  and Legal Holidays)  newspaper, published at West Palm Beach in Palm Beach County, Florida; that the attached copy of advertisement, being a Legal Advertisement of Notice in the matter of

BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT - FISCAL YEAR 2021/2022 REGULAR MEETING SCHEDULE - NOTICE IS HEREBY GIVEN THAT THE BOARD OF SUPERVISORS OF THE BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT WILL HOLD REGULAR BOARD MEETINGS, ETC.

in the XXXX Court,
was published in said newspaper in the issues of 10/06/2021
Affiant further says that the said Palm Beach Daily Business Review is a newspaper published at Palm Beach, in said Palm Beach County, Florida and that the said newspaper has heretofore been continuously published in said Palm Beach County, Florida each day (except Saturday, Sunday and Legal Holidays) and has been entered as second class mail matter at the post office in West Palm Beach in said Palm Beach County, Florida, for a period of one year next preceding the first publication of the attached copy of advertisement; and affiant further says that he or she has neither paid nor promised any person, firm or corporation any discount, rebate, commission or refund for the purpose of securing  this  advertisement  for publication  in the  said newspaper.

ANGELINA GARAY personally known to me

BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022 REGULAR MEETING SCHEDULE

NOTICE IS HEREBY GIVEN that
the Board of Supervisors of the Banyan Cay Community Development District will hold Regular Board Meetings in the Conference Room of Special District Services, Inc.
located 2501A Burns Road, Palm Beach Gardens, Florida 33410 at 2:00 p.m. on the following dates:
October 19, 2021
November 16, 2021
December 21, 2021
January 18, 2022
February 15, 2022
March 15, 2022
April 19,2022
May 17, 2022
June 21, 2022
July 19, 2022
August 16, 2022
September 20, 2022
The purpose of the meetings is to conduct any business coming before the Board. Meetings are open to the public and will be conducted in accordance with the provisions of Florida law. Copies of the Agendas for any of the meetings may be obtained from the District's website or by contacting the District Manager at 561-630-4922 and/or toll free at 1-877-737-4922 five (5) days prior to the date of the particular meeting.
From time to time one or two
Supervisors may participate by telephone; therefore, a speaker telephone will be present at the meeting location so that Supervisors may be fully informed of the discussions taking place. Said meeting(s) may be continued as found necessary to a time and place specified on the record.
If any person decides to appeal
any decision made with respect to any matter considered at these meetings, such person will need a record of-the proceedings and such person may need to insure that a verbatim record of the proceedings is made at his or her own expense

BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
APRIL 19, 2022

CALL TO ORDER

The April 19, 2022, Regular Board Meeting of the Banyan Cay Community Development District (the “District”) was called to order at 2:12 p.m. in the Conference Room of Special District Services, Inc., located at 2501A Burns Road, Palm Beach Gardens, Florida 33410.

PROOF OF PUBLICATION

Proof of publication was presented which showed that notice of the Regular Board Meeting had been published in The Palm Beach Post on October 6, 2021, as part of the District’s Fiscal Year 2021/2022 Meeting Schedule, as legally required.

ESTABLISH A QUORUM

A quorum was established with the following Supervisors in attendance:

Chairperson	Alicia Lewis	Present	
Vice-Chair	Charlie Rimpela	Present	
Supervisor	Matthew Kutner	Present	
Supervisor	Vacant		
Supervisor	David Kohlasch	Present	

Also in virtual attendance were:

District Manager	Jason Pierman	Special District Services, Inc.	
District Counsel	Bill Capko (via phone)	Lewis Longman & Walker, P.A.	

Mr. Pierman noted that Mr. Kutner and Mr. Kohlasch had both been sworn in prior to the beginning of the meeting.

ADDITIONS OR DELETIONS TO AGENDA

There were no additions or deletions to the agenda.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA

There were no comments from the public for items not on the agenda.

APPROVAL OF MINUTES
November 16, 2021, Regular Board Meeting

The minutes of the November 16, 2021, Regular Board Meeting were presented for consideration.

A motion was made by Mr. Rimpela, seconded by Ms. Lewis and passed unanimously approving the minutes of the November 16, 2021, Regular Board Meeting, as presented.

OLD BUSINESS

There were no Old Business items to come before the Board.

NEW BUSINESS
Consider Resolution No. 2022-01 – Adopting a Fiscal Year 2022/2023 Proposed Budget
Resolution No. 2022-01 was presented, entitled:

RESOLUTION 2022-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2022/2023 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW AND PROVIDING FOR AN EFFECTIVE DATE.

A motion was made by Mr. Rimpela, seconded by Mr. Kutner and passed unanimously adopting Resolution No. 2022-01, as presented, setting the Public Hearing for June 21, 2022.

Consider Stormwater and Wastewater 20-Year Needs Analysis Proposal

Mr. Pierman explained that the State had mandated that every District create a 20-Year Stormwater Report by June 30, 2022. He presented the proposal to create the report from Engenuity Group for a not-to-exceed amount of $8,500.

A motion was made by Mr. Rimpela, seconded by Mr. Lewis and passed unanimously approving the proposal from Engenuity Group for the preparation of a 20-Year Stormwater Report for an amount not to exceed $8,500, as presented.

ADMINISTRATIVE MATTERS

Mr. Pierman reminded the Board to submit their 2021 Form 1 by the July 1, 2022, deadline.

BOARD MEMBER COMMENTS

There were no comments from the Board Members.

ADJOURNMENT

There being no further business to come before the Board, a motion was made by Mr. Rimpela, seconded by Ms. Lewis and passed unanimously to adjourn the meeting at 2:21 p.m.

ATTESTED BY:

Secretary/Assistant Secretary	Chairperson/Vice-Chair

RESOLUTION NO. 2022-02

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT AMENDING RESOLUTION NO. 2022-01; AMENDING THE DATE AND TIME FOR THE PUBLIC HEARING TO CONSIDER THE FISCAL YEAR 2022/2023 FINAL BUDGET AND ASSESSMENTS AND AUTHORIZING THE SECRETARY AND DISTRICT MANAGER TO TAKE CERTAIN ACTIONS TO ACCOMPLISH THE INTENT OF THIS RESOLUTION; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors (“Board”) of the Banyan Cay Community Development District (the “District”) is required by Chapter 190.008, Florida Statutes, to approve a Proposed Budget for each fiscal year; and

WHEREAS, the Board previously adopted Resolution 2022-01 approving a proposed budget and setting a public hearing for June 21, 2022; and

WHEREAS, due to the unforeseen inability of the Board to secure a quorum for the scheduled public hearing, said public hearing had to be re-advertised and rescheduled; and

WHEREAS, the public hearing has been rescheduled for August 16, 2022, and all other requirements and filings associated with the preparation of the fiscal year budget have been completed.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT, THAT:

Resolution No. 2022-01 is hereby amended to change the date and time of the Public Hearing to August 16, 2022 at 2:00 p.m. in the Conference Room of Special District Services, Inc., 2501A Burns Road, Palm Beach Gardens, Florida 33410, for the purpose of receiving public comments on the Proposed Fiscal Year 2022/2023 Budget.

The Secretary of the District is authorized to execute any and all necessary transmittals, certifications or other acknowledgements or writings, as necessary, to comply with all applicable notice requirements.

PASSED, ADOPTED and EFFECTIVE this 16th day of August, 2022.

ATTEST:	BANYAN CAY
COMMUNITY DEVELOPMENT DISTRICT

By:			By:	 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

RESOLUTION NO. 2022-03

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT, ESTABLISHING A REGULAR MEETING SCHEDULE FOR FISCAL YEAR 2022/2023 AND SETTING THE TIME AND LOCATION OF SAID DISTRICT MEETINGS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, it is necessary for the Banyan Cay Community Development District ("District") to establish a regular meeting schedule for fiscal year 2022/2023; and

WHEREAS, the Board of Supervisors of the District has set a regular meeting schedule, location and time for District meetings for fiscal year 2022/2023 which is attached hereto and made a part hereof as Exhibit “A”.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS:

Section 1.   The above recitals are hereby adopted.

Section 2.  The regular meeting schedule, time and location for meetings for fiscal year 2022/2023 which is attached hereto as Exhibit “A” is hereby adopted and authorized to be published.

PASSED, ADOPTED and EFFECTIVE this 16th day of August, 2022.

ATTEST:	BANYAN CAY
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023 REGULAR MEETING SCHEDULE

NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Banyan Cay Community Development District will hold Regular Board Meetings in the Conference Room of Special District Services, Inc. located 2501A Burns Road, Palm Beach Gardens, Florida 33410 at 2:00 p.m. on the following dates:

October 18, 2021
November 15, 2021
December 13, 2021
January 17, 2022
February 21, 2022
March 21, 2022
April 18, 2022
May 16, 2022
June 20, 2022
July 18, 2022
August 15, 2022
September 19, 2022

The purpose of the meetings is to conduct any business coming before the Board. Meetings are open to the public and will be conducted in accordance with the provisions of Florida law. Copies of the Agendas for any of the meetings may be obtained from the District’s website or by contacting the District Manager at 561-630-4922 and/or toll free at 1-877-737-4922 five (5) days prior to the date of the particular meeting.

From time to time one or two Supervisors may participate by telephone; therefore, a speaker telephone will be present at the meeting location so that Supervisors may be fully informed of the discussions taking place. Said meeting(s) may be continued as found necessary to a time and place specified on the record.

If any person decides to appeal any decision made with respect to any matter considered at these meetings, such person will need a record of the proceedings and such person may need to ensure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.

In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at any of these meetings should contact the District Manager at 561-630-4922 and/or toll free at 1-877-737-4922 at least seven (7) days prior to the date of the particular meeting.

Meetings may be cancelled from time to time without advertised notice.

BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT

www.banyancaycdd.org

PUBLISH: PALM BEACH DAILY BUSINESS REVIEW

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RESOLUTION NO. 2022-04

A RESOLUTION OF THE BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT ADOPTING A FISCAL YEAR 2022/2023 BUDGET.

WHEREAS, the Banyan Cay Community Development District (“District”) has prepared a Proposed Budget and Final Special Assessment Roll for Fiscal Year 2022/2023 and has held a duly advertised Public Hearing to receive public comments on the Proposed Budget and Final Special Assessment Roll; and,

WHEREAS, following the Public Hearing and the adoption of the Proposed Budget and Final Assessment Roll, the District is now authorized to levy non ad-valorem assessments upon the properties within the District.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT THAT:

Section 1.	The Final Budget and Final Special Assessment Roll for Fiscal Year 2022/2023 attached hereto as Exhibit “A” is approved and adopted, and the assessments set forth therein shall be levied.

Section 2.	The Secretary of the District is authorized to execute any and all necessary transmittals, certifications or other acknowledgements or writings, as necessary, to comply with the intent of this Resolution.

PASSED, ADOPTED and EFFECTIVE this 16th day of August, 2022.

ATTEST:	BANYAN CAY
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

Banyan Cay Community Development District

Final Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023
BUDGET	
O&M Assessments	91,026	
Developer Contribution	0	
Debt Assessments	425,532	
 nterest ncome	60	
		
TOTAL REVENUES	$	516,618	
		
EXPENDITURES		
Supervisor Fees	0	
Engineering/ nspections	 ,000	
Management	24,720	
/egal	22,000	
Assessment Roll	5,000	
Audit Fees	4,500	
Arbitrage Rebate Fee	650	
 nsurance	6,064	
/egal Advertisements	1,400	
Miscellaneous	2,000	
Postage	400	
Office Supplies	750	
Dues & Subscriptions	175	
Trustee Fees	4,150	
Continuing Disclosure Fee	1,000	
Website Management	2,000	
Reserve	2, 16	
TOTAL EXPENDITURES	$	85,625	
		
REVENUES LESS EXPENDITURES	$	430,993	
		
Bond Payments	(400,000)	
		
BALANCE	$	30,993	
		
County Appraiser & Tax Collector Fee	(10,331)	
Discounts For Early Payments	(20,662)	
		
EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2020/2021 ACTUAL	
FISCAL YEAR 2021/2022 BUDGET	
FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	
O&M Assessments	0	91,026	91,026	Expenditures Less nterest /.94	
Developer Contribution	121,870	0	0	Developer Contribution	
Debt Assessments	0	425,532	425,532	Bond Payments/.94	
 nterest ncome	14	60	60	ProMected At $5.00 Per Month	
					
TOTAL REVENUES	$	121,884	$	516,618	$	516,618		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Engineering/ nspections	16,017	8,000	8,000	No Change From 2021/2022 Budget	
Management	24,000	24,000	24,720	CP ncrease (Capped At 3 )	
Legal	41,840	24,000	22,000	F< 21/22 Expenditures Through -an 2022 Were $1,634	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	3,200	3,300	4,500	 ncreased Due To Bond ssue	
Arbitrage Rebate Fee	0	650	650	No Change From 2021/2022 Budget	
 nsurance	5,513	6,064	6,064	 nsurance Estimate	
Legal Advertisements	636	1,500	1,400	$100 Decrease From 2021/2022 Budget	
Miscellaneous	751	2,000	2,000	No Change From 2021/2022 Budget	
Postage	178	400	400	No Change From 2021/2022 Budget	
Office Supplies	110	800	750	$50 Decrease From 2021/2022 Budget	
Dues & Subscriptions	175	175	175	No Change From 2021/2022 Budget	
Trustee Fees	4,140	4,150	4,150	No Change From 2021/2022 Budget	
Continuing Disclosure Fee	500	1,000	1,000	No Change From 2021/2022 Budget	
Website Management	2,000	2,000	2,000	No Change From 2021/2022 Budget	
Reserve	11,000	2,586	2,816	Reserve	
TOTAL EXPENDITURES	$	115,060	$	85,625	$	85,625		
					
REVENUES LESS EXPENDITURES	$	6,824	$	430,993	$	430,993		
					
Bond Payments	0	(400,000)	(400,000)	2023 P & Payments Less Earned nterest	
					
BALANCE	$	6,824	$	30,993	$	30,993		
					
County Appraiser & Tax Collector Fee	0	(10,331)	(10,331)		
Discounts For Early Payments	0	(20,662)	(20,662)		
					
EXCESS/ (SHORTFALL)	$	6,824	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2020/2021 ACTUAL	FISCAL YEAR 2021/2022 BUDGET	FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	

 nterest ncome	
21	
25	
25	
ProMected nterest For 2022/2023	

Capitalized nterest	
234,726	
0	
0	

Capitalized nterest Set-up Though November 2021	

NA9 Tax Collection	
0	
400,000	
400,000	
Maximum Debt Service Collection	

Total Revenues	
$	234,747	
$	400,025	
$	400,025		

EXPENDITURES					

Principal Payments	
0	
130,000	
130,000	
Principal Payment Due n 2023	

 nterest Payments	
100,170	
269,113	
265,538	
 nterest Payments Due n 2023	

Bond Redemption	
0	
912	
4,487	
Estimated Excess Debt Collections	

Total Expenditures	
$	100,170	
$	400,025	
$	400,025		

Excess/ (Shortfall)	
$	134,577	
$	-	
$	-		

Series 2020 Bond Information

Original Par Amount =	$6,895,000	Annual Principal Payments Due =	November 1st	
 nterest Rate =	2.75% - 4.00 	Annual nterest Payments Due =	May 1st & November 1st	
 ssue Date =	December 2020			
Maturity Date =

Par Amount As Of 1/1/22 =	November 2051

$6,895,000			

Banyan Cay Community Development District Assessment Comparison

Original Projected
	Assessment*		Fiscal Year 2020/2021
	Assessment*		Fiscal Year 2021/2022
	Assessment*		Fiscal Year 2022/2023
	Projected Assessment*		

O & M For Estate Homes	
$	-	
$	-	
$	370.03	
$	370 03	
Debt For Estate Homes	$	1,789.00	$	- 	$	1,789.13	$	1,789 13	
Total For Estate Homes	$	1,789 00	$	-	$	2,159 16	$	2,159 16	

O & M For Hotel Room/Units	
$	-	
$	-	
$	370.03	
$	370 03	
Debt For Hotel Room/Units	$	1,789.00	$	- 	$	1,789.13	$	1,789 13	
Total For Hotel	$	1,789 00	$	-	$	2,159 16	$	2,159 16	

O & M For Resort Villas	
$	-	
$	-	
$	370.03	
$	370 03	
Debt For Resort Villas	$	1,431.00	$	- 	$	1,431.30	$	1,431 30	
Total For Resort Villas	$	1,431 00	$	-	$	1,801 33	$	1,801 33	

O & M For Clubhouse Component	
$	
-	
$	
-	
$	
8,140.66	
$	
8,140 66	
Debt For Clubhouse Component	$	32,639.00	$	- 	$	32,639.00	$	32,639 00	
Total For CluEhouse Component	$	32,639 00	$	-	$	40,779 66	$	40,779 66	

* Assessments nclude the Following 		
4% Discount for Early Payments 1% County Tax Collector Fee
1% County Property Appraiser Fee		
Community nformation - Phase One 		
Estate Homes	52	
Hotel Units/Room	150	
Resort Villas	22	
Clubhouse Component	22	
Total Units	246	
Clubhouse Component s 18,243 Square Feet